Saudi Cable logs SAR 4.9M loss in Q1 2024

19/05/2024 Argaam Exclusive

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Saudi Cable Co. swung to a net loss of SAR 4.9 million in Q1 2024 from a profit of SAR 40.9 million a year earlier.

Current Quarter Comparison (M)

Compared With The

Item	Q1 2023	Q1 2024	Change‬
Revenues	11.72	12.57	7.3 %
Gross Income	(18.08)	(10.60)	41.4 %
Operating Income	4.32	(36.64)	(948.8 %)
Net Income	40.90	(4.85)	(111.8 %)
Average Shares	6.67	6.67	-
EPS (Riyals)	6.13	(0.73)	(111.8 %)

Item	Q4 2023	Q1 2024	Change‬
Revenues	11.62	12.57	8.2 %
Gross Income	(17.13)	(10.60)	38.1 %
Operating Income	(25.66)	(36.64)	(42.8 %)
Net Income	2.36	(4.85)	(305.6 %)
Average Shares	6.67	6.67	-
EPS (Riyals)	0.35	(0.73)	(305.6 %)

The company attributed Q1 2024 losses to operational losses and increased costs of financial and legal advisors preparing the financial regulation file.

Last year’s Zakat reduction, through the SAR 41 million settlement, was one of the factors that most affected net profit in Q1 2023.

Compared to Q4 2023, the company swung to losses from a net profit of SAR 3.03 million, mainly due to net losses of SAR 2.29 billion from non-continuing activities from the subsidiary’s business in Turkey.

Shareholders’ equity, no minority interest, reached SAR 460.98 million at the end of Q1 2024, compared to SAR 456.48 million in the year-earlier period.

Accumulated losses stood at SAR 511.61 million, or 766.7% of the company's capital.

View More Financial Results

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2015	498.35	8.7 %	29.34	79.5 %	(7.94)	80.7 %	(1.90)
Q2 2015	475.70	9.5 %	21.25	2127.6 %	0.88	101.7 %	0.21
Q3 2015	491.63	24.6 %	14.82	1128.4 %	(2.85)	94.3 %	(0.68)
Q4 2015	449.84	11.1 %	(1.25)	93.5 %	11.60	119.4 %	2.78
2015	1,918.06	11.8 %	68.41	926.6 %	1.69	100.8 %	0.40
Q1 2016	386.66	(22.4 %)	(13.77)	(146.9 %)	(58.66)	(638.6 %)	(14.03)
Q2 2016	474.84	(0.2 %)	36.89	73.6 %	(18.21)	(2167.3 %)	(4.36)
Q3 2016	348.48	(29.1 %)	15.71	6.0 %	4.87	270.7 %	1.17
Q4 2016	354.57	(21.2 %)	9.61	870.6 %	(154.30)	(1430.0 %)	(36.91)
2016	1,564.56	(18.4 %)	39.35	(42.5 %)	(235.39)	(14053.3 %)	(56.31)
Q1 2017	340.07	(12.1 %)	11.72	185.1 %	(23.65)	59.7 %	(5.66)
Q2 2017	351.41	(26.0 %)	10.05	(72.8 %)	39.38	316.2 %	9.42
Q3 2017	314.59	(9.7 %)	17.14	9.1 %	(34.49)	(808.1 %)	(8.25)
Q4 2017	336.29	(5.2 %)	12.89	34.1 %	(61.54)	60.1 %	(14.72)
2017	1,342.48	(14.2 %)	51.92	31.9 %	(80.31)	65.9 %	(19.21)
Q1 2018	275.07	(19.1 %)	0.15	(98.8 %)	(20.72)	12.4 %	(4.96)
Q2 2018	252.03	(28.3 %)	(3.24)	(132.2 %)	(97.24)	(346.9 %)	(23.26)
Q3 2018	178.97	(43.1 %)	(22.05)	(228.6 %)	(15.71)	54.5 %	(3.76)
Q4 2018	158.96	(52.7 %)	(70.73)	(648.8 %)	70.72	214.9 %	16.92
2018	865.02	(35.6 %)	(95.87)	(284.6 %)	(62.95)	21.6 %	(15.06)
Q1 2019	102.46	(62.8 %)	(9.00)	(6304.1 %)	(32.10)	(54.9 %)	(7.68)
Q2 2019	90.58	(64.1 %)	(12.07)	(273.0 %)	(18.32)	81.2 %	(4.38)
Q3 2019	81.63	(54.4 %)	(1.66)	92.5 %	(23.79)	(51.4 %)	(5.69)
Q4 2019	106.61	(32.9 %)	(12.45)	82.4 %	12.38	(82.5 %)	2.96
2019	381.27	(55.9 %)	(35.18)	63.3 %	(61.83)	1.8 %	(14.79)
Q1 2020	59.53	(41.9 %)	(17.31)	(92.4 %)	(43.20)	(34.6 %)	(6.47)
Q2 2020	145.18	60.3 %	(6.74)	44.2 %	(16.58)	9.5 %	(2.48)
Q3 2020	92.61	13.5 %	(13.28)	(700.6 %)	51.41	316.1 %	7.70
Q4 2020	71.46	(33.0 %)	(20.34)	(63.4 %)	(46.64)	(476.9 %)	(6.99)
2020	368.78	(3.3 %)	(57.66)	(63.9 %)	(55.01)	11.0 %	(8.24)
Q1 2021	63.86	7.3 %	(17.26)	0.3 %	(35.88)	16.9 %	(5.38)
Q2 2021	41.35	(71.5 %)	(20.97)	(211.1 %)	(19.19)	(15.7 %)	(2.88)
Q3 2021	23.50	(74.6 %)	(24.22)	(82.4 %)	(46.56)	(190.6 %)	(6.98)
Q4 2021	31.85	(55.4 %)	(14.18)	30.3 %	(92.68)	(98.7 %)	(13.89)
2021	160.55	(56.5 %)	(76.63)	(32.9 %)	(194.31)	(253.2 %)	(29.12)
Q1 2022	35.36	(44.6 %)	(26.74)	(54.9 %)	(37.16)	(3.5 %)	(5.57)
Q2 2022	25.03	(39.5 %)	(18.31)	12.7 %	(44.49)	(131.9 %)	(6.67)
Q3 2022	6.01	(74.4 %)	(20.14)	16.9 %	(34.93)	25.0 %	(5.23)
Q4 2022	6.41	(79.9 %)	(31.23)	(120.2 %)	(463.90)	(400.5 %)	(69.52)
2022	68.37	(57.4 %)	(84.73)	(10.6 %)	(580.48)	(198.7 %)	(86.99)
Q1 2023	11.72	(66.9 %)	(18.08)	32.4 %	40.90	210.1 %	6.13
Q2 2023	3.87	(84.5 %)	(19.63)	(7.2 %)	(5.83)	86.9 %	(0.87)
Q3 2023	3.47	(42.2 %)	(15.76)	21.7 %	(0.88)	97.5 %	(0.13)
Q4 2023	11.62	81.2 %	(17.13)	45.1 %	2.36	100.5 %	0.35
2023	30.68	(55.1 %)	(68.16)	19.6 %	36.56	106.3 %	5.48
Q1 2024	12.57	7.3 %	(10.60)	41.4 %	(4.85)	(111.8 %)	(0.73)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2014	1,716.32	(29.9 %)	6.66	(90.5 %)	(201.68)	12.0 %	(48.25)
2015	1,918.06	11.8 %	68.41	926.6 %	1.69	100.8 %	0.40
2016	1,564.56	(18.4 %)	39.35	(42.5 %)	(235.39)	(14053.3 %)	(56.31)
2017	1,342.48	(14.2 %)	51.92	31.9 %	(80.31)	65.9 %	(19.21)
2018	865.02	(35.6 %)	(95.87)	(284.6 %)	(62.95)	21.6 %	(15.06)
2019	381.27	(55.9 %)	(35.18)	63.3 %	(61.83)	1.8 %	(14.79)
2020	368.78	(3.3 %)	(57.66)	(63.9 %)	(55.01)	11.0 %	(8.24)
2021	160.55	(56.5 %)	(76.63)	(32.9 %)	(194.31)	(253.2 %)	(29.12)
2022	68.37	(57.4 %)	(84.73)	(10.6 %)	(580.48)	(198.7 %)	(86.99)
2023	30.68	(55.1 %)	(68.16)	19.6 %	36.56	106.3 %	5.48

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2015	0.55 %	(4.80 %)	(9.01 %)
Q2 2015	1.68 %	(2.83 %)	(6.95 %)
Q3 2015	2.47 %	(1.15 %)	(5.22 %)
Q4 2015	3.35 %	(0.50 %)	(5.26 %)
2015	3.57 %	(0.50 %)	(5.25 %)
Q1 2016	1.17 %	(2.50 %)	(8.40 %)
Q2 2016	2.04 %	(1.67 %)	(8.43 %)
Q3 2016	2.26 %	(1.96 %)	(9.90 %)
Q4 2016	3.10 %	(0.86 %)	(9.96 %)
2016	2.52 %	(1.44 %)	(10.54 %)
Q1 2017	4.87 %	1.51 %	(7.96 %)
Q2 2017	3.38 %	0.28 %	(10.06 %)
Q3 2017	3.57 %	0.50 %	(10.15 %)
Q4 2017	3.86 %	0.70 %	(11.72 %)
2017	3.87 %	0.70 %	(11.72 %)
Q1 2018	3.15 %	(0.67 %)	(14.04 %)
Q2 2018	2.29 %	(1.13 %)	(20.29 %)
Q3 2018	(1.18 %)	(5.13 %)	(25.69 %)
Q4 2018	(11.08 %)	(18.24 %)	(39.20 %)
2018	(11.08 %)	(18.24 %)	(39.20 %)
Q1 2019	(15.17 %)	(23.90 %)	(47.00 %)
Q2 2019	(21.44 %)	(35.73 %)	(46.43 %)
Q3 2019	(21.55 %)	(39.33 %)	(47.75 %)
Q4 2019	(9.23 %)	(19.05 %)	(16.22 %)
2019	(9.23 %)	(19.05 %)	(16.22 %)
Q1 2020	(12.85 %)	(24.76 %)	(21.56 %)
Q2 2020	(9.71 %)	(18.37 %)	(18.12 %)
Q3 2020	(12.32 %)	(22.44 %)	0.99 %
Q4 2020	(15.64 %)	(35.68 %)	(14.92 %)
2020	(15.64 %)	(35.68 %)	(14.92 %)
Q1 2021	(15.44 %)	(35.14 %)	(12.78 %)
Q2 2021	(26.68 %)	(51.05 %)	(18.68 %)
Q3 2021	(41.36 %)	(70.09 %)	(74.07 %)
Q4 2021	(47.73 %)	(68.42 %)	(121.02 %)
2021	(47.73 %)	(68.42 %)	(121.02 %)
Q1 2022	(65.20 %)	(88.46 %)	(148.11 %)
Q2 2022	(72.10 %)	(106.10 %)	(190.86 %)
Q3 2022	(80.78 %)	(111.16 %)	(213.00 %)
Q4 2022	(132.42 %)	(273.12 %)	(705.13 %)
2022	(123.93 %)	(265.59 %)	(750.92 %)
Q1 2023	(178.48 %)	(311.84 %)	(968.85 %)
Q2 2023	(317.99 %)	(514.04 %)	(1521.53 %)
Q3 2023	(332.52 %)	(561.21 %)	(1534.68 %)
Q4 2023	(230.16 %)	(159.07 %)	(63.94 %)
2023	(222.19 %)	(149.38 %)	(63.89 %)
Q1 2024	(200.18 %)	(289.78 %)	(77.22 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2014	0.39 %	(6.16 %)	(11.03 %)
2015	3.57 %	(0.50 %)	(5.25 %)
2016	2.52 %	(1.44 %)	(10.54 %)
2017	3.87 %	0.70 %	(11.72 %)
2018	(11.08 %)	(18.24 %)	(39.20 %)
2019	(9.23 %)	(19.05 %)	(16.22 %)
2020	(15.64 %)	(35.68 %)	(14.92 %)
2021	(47.73 %)	(68.42 %)	(121.02 %)
2022	(123.93 %)	(265.59 %)	(750.92 %)
2023	(222.19 %)	(149.38 %)	(63.89 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2015	5.89 %	1.41 %	(1.59 %)
Q2 2015	4.47 %	1.15 %	(3.73 %)
Q3 2015	3.01 %	1.41 %	(4.94 %)
Q4 2015	(0.28 %)	(6.43 %)	(11.29 %)
Q1 2016	(3.56 %)	(7.39 %)	(15.17 %)
Q2 2016	7.77 %	4.33 %	(3.84 %)
Q3 2016	4.51 %	1.27 %	(10.50 %)
Q4 2016	2.71 %	(2.77 %)	(11.95 %)
Q1 2017	3.45 %	2.31 %	(6.96 %)
Q2 2017	2.86 %	0.41 %	(10.71 %)
Q3 2017	5.45 %	2.34 %	(10.96 %)
Q4 2017	3.83 %	(2.17 %)	(18.30 %)
Q1 2018	0.05 %	(3.64 %)	(16.62 %)
Q2 2018	(1.28 %)	(1.34 %)	(38.58 %)
Q3 2018	(12.32 %)	(18.32 %)	(35.35 %)
Q4 2018	(44.49 %)	(70.23 %)	(83.57 %)
Q1 2019	(8.78 %)	(17.27 %)	(31.33 %)
Q2 2019	(13.33 %)	(30.50 %)	(20.22 %)
Q3 2019	(2.03 %)	(16.66 %)	(29.15 %)
Q4 2019	(11.68 %)	(12.88 %)	11.61 %
Q1 2020	(29.07 %)	(48.44 %)	(72.56 %)
Q2 2020	(4.64 %)	(11.04 %)	(11.42 %)
Q3 2020	(14.34 %)	(34.62 %)	55.51 %
Q4 2020	(28.46 %)	(76.51 %)	(65.27 %)
Q1 2021	(27.03 %)	(44.38 %)	(56.19 %)
Q2 2021	(50.70 %)	(54.17 %)	(46.40 %)
Q3 2021	(103.08 %)	(148.45 %)	(198.11 %)
Q4 2021	(44.52 %)	(76.07 %)	(291.01 %)
Q1 2022	(75.62 %)	(99.85 %)	(105.09 %)
Q2 2022	(73.16 %)	(113.38 %)	(177.77 %)
Q3 2022	(334.93 %)	(354.29 %)	(580.97 %)
Q4 2022	(486.96 %)	(1775.66 %)	(6187.68 %)
Q1 2023	(154.33 %)	87.31 %	(0.94 %)
Q2 2023	(506.95 %)	(491.94 %)	145.29 %
Q3 2023	(453.95 %)	(583.50 %)	10.69 %
Q4 2023	(147.46 %)	(169.70 %)	(219.51 %)
Q1 2024	(84.31 %)	(257.34 %)	(38.54 %)

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2015	4.18	(40.31)	(37.36)	101.26
Q2 2015	4.18	(28.00)	(29.50)	103.53
Q3 2015	4.18	(16.71)	(23.34)	99.73
Q4 2015	4.18	0.40	(24.11)	104.06
Q1 2016	4.18	(11.73)	(36.24)	95.36
Q2 2016	4.18	(16.30)	(36.36)	88.43
Q3 2016	4.18	(14.45)	(39.30)	92.92
Q4 2016	4.18	(54.14)	(37.28)	71.68
Q1 2017	4.18	(45.76)	(28.91)	64.29
Q2 2017	4.18	(31.99)	(33.55)	74.42
Q3 2017	4.18	(41.40)	(33.05)	67.25
Q4 2017	4.18	(19.21)	(37.63)	50.20
Q1 2018	4.18	(18.51)	(42.91)	(20.97)
Q2 2018	4.18	(51.19)	(57.17)	24.57
Q3 2018	4.18	(46.70)	(64.06)	21.02
Q4 2018	4.18	(15.06)	(81.11)	38.79
Q1 2019	4.18	(17.78)	(77.86)	31.60
Q2 2019	4.18	1.10	(58.98)	26.42
Q3 2019	4.18	(0.83)	(49.53)	21.41
Q4 2019	4.18	(14.79)	(14.79)	22.56
Q1 2020	6.67	(10.93)	(10.93)	44.54
Q2 2020	6.67	(10.67)	(10.67)	43.91
Q3 2020	6.67	0.60	0.60	51.12
Q4 2020	6.67	(8.24)	(8.24)	43.26
Q1 2021	6.67	(7.15)	(7.15)	37.73
Q2 2021	6.67	(7.54)	(7.54)	33.67
Q3 2021	6.67	(22.22)	(22.22)	26.42
Q4 2021	6.67	(29.12)	(29.12)	12.56
Q1 2022	6.67	(29.31)	(29.31)	9.85
Q2 2022	6.67	(33.10)	(33.10)	(2.72)
Q3 2022	6.67	(31.36)	(31.36)	(7.10)
Q4 2022	6.67	(86.99)	(76.94)	(74.40)
Q1 2023	6.67	(75.29)	(71.38)	(68.41)
Q2 2023	6.67	(69.50)	(63.87)	(71.08)
Q3 2023	6.67	(64.40)	(58.58)	(69.50)
Q4 2023	6.67	5.48	(2.94)	(69.62)
Q1 2024	6.67	(1.38)	(3.65)	(69.08)

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2014	4.18	(48.25)	(45.30)	102.81
2015	4.18	0.40	(24.11)	104.06
2016	4.18	(56.31)	(39.46)	71.68
2017	4.18	(19.21)	(37.63)	50.20
2018	4.18	(15.06)	(81.11)	38.79
2019	4.18	(14.79)	(14.79)	22.56
2020	6.67	(8.24)	(8.24)	43.26
2021	6.67	(29.12)	(29.12)	12.56
2022	6.67	(86.99)	(76.94)	(74.40)
2023	6.67	5.48	(2.94)	(69.62)

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2015	NEG	NEG	2.89
Q2 2015	NEG	NEG	2.49
Q3 2015	NEG	NEG	2.21
Q4 2015	More than 100	NEG	2.14
Q1 2016	NEG	NEG	2.13
Q2 2016	NEG	NEG	2.18
Q3 2016	NEG	NEG	1.44
Q4 2016	NEG	NEG	2.46
Q1 2017	NEG	NEG	2.59
Q2 2017	NEG	NEG	2.24
Q3 2017	NEG	NEG	2.48
Q4 2017	NEG	NEG	3.32
Q1 2018	NEG	NEG	(7.95)
Q2 2018	NEG	NEG	5.28
Q3 2018	NEG	NEG	4.73
Q4 2018	NEG	NEG	4.16
Q1 2019	NEG	NEG	5.72
Q2 2019	More than 100	NEG	5.92
Q3 2019	NEG	NEG	6.98
Q4 2019	NEG	NEG	7.10
Q1 2020	NEG	NEG	1.27
Q2 2020	NEG	NEG	1.65
Q3 2020	More than 100	More than 100	2.24
Q4 2020	NEG	NEG	3.72
Q1 2021	NEG	NEG	4.28
Q2 2021	NEG	NEG	4.85
Q3 2021	NEG	NEG	5.54
Q4 2021	NEG	NEG	8.40
Q1 2022	NEG	NEG	8.03
Q2 2022	NEG	NEG	(21.06)
Q3 2022	NEG	NEG	(8.05)
Q4 2022	NEG	NEG	(0.77)
Q1 2023	NEG	NEG	(0.84)
Q2 2023	NEG	NEG	(0.80)
Q3 2023	NEG	NEG	(0.82)
Q4 2023	10.44	NEG	(0.82)
Q1 2024	NEG	NEG	(1.21)

Period	P/E	Adjusted P/E	Price/book
2014	NEG	NEG	2.61
2015	More than 100	NEG	2.14
2016	NEG	NEG	2.46
2017	NEG	NEG	3.32
2018	NEG	NEG	4.16
2019	NEG	NEG	7.10
2020	NEG	NEG	3.72
2021	NEG	NEG	8.40
2022	NEG	NEG	(0.77)
2023	10.44	NEG	(0.82)

Business Segments (Million)

Compared With The

Period	Sale of Goods	Contract Revenue
Q1 2015	472.24	26.11
Q2 2015	461.29	14.41
Q3 2015	480.09	11.54
Q4 2015	422.83	38.96
Q1 2016	379.92	6.75
Q2 2016	444.91	29.93
Q3 2016	330.89	17.60
Q4 2016	324.95	67.48
Q1 2017	325.31	14.88
Q2 2017	332.95	18.46
Q3 2017	291.99	22.59
Q4 2017	293.43	42.86
Q1 2018	261.76	13.30
Q2 2018	232.45	19.58
Q3 2018	166.50	12.47
Q4 2018	140.51	18.44
Q1 2019	93.48	8.98
Q2 2019	70.23	20.35
Q3 2019	52.77	28.86
Q1 2020	41.57	17.97
Q2 2020	133.48	11.70
Q3 2020	75.65	16.96
Q4 2020	59.87	11.58
Q1 2021	60.12	3.73
Q2 2021	37.63	3.72
Q3 2021	19.75	3.75
Q4 2021	25.61	6.24
Q1 2022	29.72	5.63
Q2 2022	13.44	11.59
Q3 2022	4.83	1.30
Q1 2023	5.91	5.81
Q2 2023	2.07	1.80
Q3 2023	2.32	1.16
Q4 2023	7.69	3.93
Q1 2024	9.22	3.36

Period	Sale of Goods	Contract Revenue
2014	1,563.18	153.14
2015	1,827.03	91.03
2016	1,480.65	83.90
2017	1,243.68	98.80
2018	801.22	63.80
2019	329.26	52.02
2020	310.57	58.21
2021	143.11	17.44
2022	49.27	23.66
2023	17.99	12.69

Financial Ratios

	Current
Market Cap (M Riyal)	523.08
Enterprise Value (EV) (M)	616.88
Shares Outstanding ((M))	6.67
EPS ( Riyal) (TTM)	(1.38)
Book Value (BV) ( Riyal)	(69.08)
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	Neg
P/E (TTM)	NEG
Price/book	(1.13)
Return on Average Assets (%) (TTM)	(1.30 )
Return on Average Equity (%) (TTM)	-

Saudi Cable Co. (SAUDI CABLE)

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Saudi Cable logs SAR 4.9M loss in Q1 2024

View other reports

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2024 Q1

Financial Ratios

Share Price

Saudi Cable Co. (SAUDI CABLE)

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Saudi Cable logs SAR 4.9M loss in Q1 2024

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Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q1 2024

Revenue by Business Segment (Latest) 2024 Q1

Financial Ratios

Share Price

Saudi Cable Co. (SAUDI CABLE)

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Business Segments (Million)